February 28, 2024
Charcot-Marie-Tooth Disease Market

The Global Charcot-Marie-Tooth Disease Market Is Driven By Increasing Prevalence Of Hereditary Neuropathies

Charcot-Marie-Tooth disease (CMT) refers to a group of inherited neurological disorders that cause damage to the peripheral nerves. It affects the peripheral nervous system resulting in weakness and wasting of muscles, primarily in the legs and feet. People with CMT display symptoms like weakness and wasting in the muscles of lower legs and feet. Weakened foot and leg muscles can lead to high arched feet and clawlike toes. The condition worsens over decades as nerves continue to deteriorate. It is one of the most common inherited neurological disorder affecting nearly 150,000 people in the United States. The treatment approach for CMT disease depends on the type and severity of symptoms and may include physical therapy, orthopedic braces, medication and in severe cases surgeries.

The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

One of the major trends driving the Charcot-Marie-Tooth disease market growth is increasing research into developing treatment options. Currently, there is no cure for CMT and available treatments only manage symptoms. Researchers are conducting clinical trials to evaluate potential new drug therapies that may help halt or slow progression of the disorder. For instance, Digenic’s DG-013-CS gene therapy is being investigated in a phase I/II study for treating CMT type 1A. Increased research funding from public and private organizations is encouraging more pharmaceutical companies and research institutes to work on novel drugs and treatment modalities. This is expected to bring new product launches in the coming years thereby fueling the market growth.

Porter’s Analysis

Threat of new entrants: Low, as CMT disease market requires high R&D investment and established distribution channel.

Bargaining power of buyers: Moderate, as buyers have low switching costs and can choose from available treatment options.

Bargaining power of suppliers: Moderate, as suppliers have access to differentiated diagnostics and treatment products.

Threat of new substitutes: Low, as limited treatment alternatives exist for CMT disease.

Competitive rivalry: High, as major players compete on product differentiation and pricing.

Key Takeaways

The global Charcot-Marie-Tooth Disease Market Growth is expected to witness high growth. The global Charcot-Marie-Tooth Disease Market is estimated to be valued at US$ 1392.68 Mn in 2024 and is expected to exhibit a CAGR of 3.6% over the forecast period 2024 to 2031.

Regional analysis:

North America region currently holds the largest market share due to growing cases and rising research funding. However, Asia Pacific region is expected to grow at the fastest pace during the forecast period owing to improving healthcare infrastructure and increasing healthcare spending.

Key players

related content comprises Key players: Key players operating in the Charcot-Marie-Tooth Disease market are Baxter, AbbVie Inc., Piramal Enterprises Ltd., Fresenius SE & Co. KgaA, GE Healthcare, and Mindray Medical International Limited, among others. Baxter leads the market with its diversified portfolio of plasma-derived therapies to treat CMT disease. AbbVie also has a significant market share through its portfolio of neuroprotective drugs to manage symptoms.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it